Mumbai is a city where real estate is so expensive that a lot of people, even those who are far from poor, make do with tiny homes in old dilapidated buildings and others resign themselves to living in far off suburbs in the MMR where homes are cheaper and then suffering the inevitable long commutes into the city.

Now the problem of living so long in an environment where we train ourselves to expect less by way of lifestyle, as an inevitable compromise to get on with the business of making money in Mumbai, is that we often forget to open our minds enough to ask if this much of compromise with the quality of life of ourselves and our children is really inevitable. For those of us living a cramped life in really old houses, are there no other locations where the houses are newer and the social infrastructure comparable to those in older neighbourhoods of the city ?And for those of us commuting for hours everyday, are there no better located homes, such that long commutes are cut short and we literally find time to actually live life in the Maximum City? Read more of this post

Demand for rented homes has halved and rents are down by 25% in several popular residential localities in Mumbai, Delhi and Bangalore, as India Inc tightens housing budgets in its battle against economic slowdown. In Mumbai, rentals in marquee buildings like the sea-facing Haveli on Malabar Hill, NCPA Apartments at Nariman Point and Maker Towers at Cuffe Parade, where rentals range between 5.5 lakh and 12 lakh a month, are down by up to 30%. In Delhi’s Vasant Vihar, West End, Chanakyapuri, Shanti Niketan and farmhouses in Chattarpur and West End Greens,rentals have dropped 25% in the last one year. Rentals in apartment buildings in Bangalore neighbourhoods like Epsilon in Yemlur and Prestige Exotica on Cunningham Road are also down by 35% this year.Rents in Epsilon range between 7 lakh and 10 lakh. Corporate earnings have been subdued and no new expansions have been announced in the recent past. Companies are hiring less and also cutting down on perks such as rentals. Read more of this post